What is Citi Priority for?

Hi anon,

I think I received the same invitation as you, via email. I checked out the link briefly. Let me summarize:

Citi Priority is a term used to describe your level within your banking relationship with Citibank. There are four levels, and this is the 2nd lower one. You climb the tiers when you have more assets under management (AUM) with the bank. Assets under management is basically how much money you have parked with the bank in cash or in other financial products.

The goal of the bank is to engage you and get you to deploy your money in financial products. There's a whole suite of them and I won't elaborate, but it can range from insurance to deposits to investments. Suffice to say, Citi will make some money through the transaction, which is fine if the financial product you gotten does meet your needs.

In return, they will provide you with a suite of privileges for you to enjoy. These could be things such as preferred rates for loans, lifestyle services, etc. Some people enjoy these perks because they are in some ways, exclusive. Some people don't need it but bank with Citi anyway. As you climb the ladder, you get more privileges. Think priority access to lounges, waived fees on bookings, and invite only events.

Requirement:

• Minimum investible assets of S$70,000

Benefits:

• Priority member

• Travel booking discounts

• Preferential rates for services (investments, deposits, etc.)

• Occassional promotions and perks